Law firm Polsinelli announced on Tuesday that it has opened an office in Philadelphia with a group of at least 20 partners from Holland & Knight. This new office marks the third that Kansas City, Missouri-founded Polsinelli has launched since June. Last month, Polsinelli opened offices in Fort Worth, Texas, and Park City, Utah.
Polsinelli did not disclose the names of the Holland & Knight lawyers joining the firm. However, the firm stated that the new hires would enhance its executive compensation and employee stock ownership plan practices, among others.
Holland & Knight, in response to inquiries about the departures, reaffirmed its commitment to Philadelphia and expressed plans to grow its office there. According to its website, the 2,200-lawyer firm has 73 lawyers based in Philadelphia.
“Philadelphia was a missing piece in our platform as one of the largest full-service U.S.-only firms,” said Polsinelli chairman and CEO Chase Simmons in a statement. A spokesperson confirmed that Polsinelli has just over 1,000 lawyers.
This year has seen other significant law firm hires. In April, about 50 lawyers left Denver-based business firm Moye White to join Fennemore Craig. Later that month, Munger, Tolles & Olson lost about 10% of its partnership to Baker McKenzie, which hired 17 of its transactional lawyers in Los Angeles.
The U.S. legal industry has also experienced an increase in the number of law firm mergers completed this year. According to data published earlier this month by consultancy Fairfax Associates, there were 29 law firm mergers finalized in the first half of 2024, up from 28 during the same period in 2023, and 25 in 2021 and 2022.
